NIKE’s (NKE) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of NIKE (NYSE:NKE) in a research report released on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $80.00 price objective on the footwear maker’s stock.

Several other analysts have also recently commented on the company. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Performance

NKE opened at $71.75 on Thursday. The firm has a market cap of $106.13 billion, a PE ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $75.45 and a 200-day simple moving average of $78.10. NIKE has a fifty-two week low of $70.32 and a fifty-two week high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. As a group, equities analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. NIKE’s payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth about $28,000. Caitlin John LLC increased its stake in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the third quarter valued at about $30,000. Roxbury Financial LLC bought a new position in NIKE during the fourth quarter valued at about $30,000. Finally, BankPlus Trust Department bought a new position in NIKE during the fourth quarter valued at about $34,000. 64.25% of the stock is currently owned by institutional investors.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.